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Please, help. I need credit card with longest 0% APR offer and good priviliges

Valued Member

Please, help. I need credit card with longest 0% APR offer and good priviliges

I have really learned a lot from this wonderful forum and awesome people here sharing their stories and experiences. My FICO score is currently 716 and I have 4 credit cards, 2 CITI, 1 Chase, 1 BoA AMEX and unfortunately, I recently had a lump sum of debt that will take some time for me to pay especially with low income and everyday shopping each month (groceries, bills, .. etc). I get lots of pre-approved offers from Discover More, Capital One and AMEX Premiere cards (not applicable to current situation) and I was thinking of applying for a fifth card with 0% APR on purchases for 12 - 15 months that will help me pay the current debt on other cards while reducing my stress on everyday purchases. I have a pre-approved offer for a 0%APR offer for 12 months from Wells Fargo but I do not see lots of advantages in this card that makes me tempted other than the 0%APR. If you agree with my idea of opening a fifth card, please let me know what is your recommendation for a card with good privileges and 0%APR for 12 - 15 month (if I have the luxury, I would love to have something with a minimum of 1% cashback on everyday purchases and I also need a high credit limit to cover me for this long time).

 

Please, help me with that.

Message 1 of 19
18 REPLIES
Epic Contributor

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

why are you starting this thread over?

Message 2 of 19
Valued Member

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

 


Creditaddict wrote:

why are you starting this thread over?

I am not sure why I did not get enough reply to help! I used to have tens of replies so I thought may be something is wrong.

 

Message 3 of 19
Epic Contributor

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

 


oshoair wrote:

 


Creditaddict wrote:

why are you starting this thread over?

I am not sure why I did not get enough reply to help! I used to have tens of replies so I thought may be something is wrong.

 


citi has the longest 0% of 18 months... about everyone else is offering 12 months. I would try with whoever is sending you pre-approvals

 

Message 4 of 19
Valued Member

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

 

 


Creditaddict wrote:

 


oshoair wrote:

 


Creditaddict wrote:

why are you starting this thread over?

I am not sure why I did not get enough reply to help! I used to have tens of replies so I thought may be something is wrong.

 


citi has the longest 0% of 18 months... about everyone else is offering 12 months. I would try with whoever is sending you pre-approvals

 


 

Wells Fargo sent me the Wells Fargo Rewards Visa Card with 12 months 0%APR and it is pre-approved. Should I accept it or search or wait for something better? Also, do you think adding a card now to my history will hurt me a lot since my credit history is about 2.5 years long? Final question, after a couple of years, when I pay my debt (hopefully), will closing it be bad for me?

 

Thanks a lot for your willingness to help. (By the way, I do not think Citi will give me a third card, right?)

 


 

Message 5 of 19
Epic Contributor

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

Citi might give you a 3rd.

I wonder if anyone knows if you got approved for a 3rd citi, if you could move your CL's from your current 2 citi to the new one so when you BT it won't be maxed out.

Wells fargo would be a good card probably.

I'm not real good with ages and AA and all that, if I need a card I get it and after 6-12 months you will rebuild any points you may loose because of new account... but if you put a good bit of debt on your current cards, adding more available credit will actually help you. the question is, is your util to high to get approved for a new card?

Message 6 of 19
Valued Member

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

 


Creditaddict wrote:

Citi might give you a 3rd.

I wonder if anyone knows if you got approved for a 3rd citi, if you could move your CL's from your current 2 citi to the new one so when you BT it won't be maxed out.

Wells fargo would be a good card probably.

I'm not real good with ages and AA and all that, if I need a card I get it and after 6-12 months you will rebuild any points you may loose because of new account... but if you put a good bit of debt on your current cards, adding more available credit will actually help you. the question is, is your util to high to get approved for a new card?


 

Yes, it is. I am just afraid that the new card comes with a small credit limit. I there anyway in the world to know the limit before you accept the card and then you can decide without it being added to your history?

Message 7 of 19
Epic Contributor

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

the only thing close is Bank of America Pre-approval... but very many times it then goes to under writing and the limit you get on the card in the mail is different then what the system offered you.

maybe if you were pre-approved through Alliant and USAFed you would know limit before excepting but you still going to at least have an inq.

Message 8 of 19
Super Contributor

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges

Unless you have the income to PIF the BT before the end of the term and a high enough CL to cover a least one card, your plan won;t work.  Also if you do this, you must not run up any more revolving debt.  A better approach would be to use the debt snowball method to get out of CC debt.  This method requires you to make minimum payments on all but the CC with the smallest amount of debt and on that one, pay extra until PIF.  repeat on the next lowest balance until debt free.

 

Not to judge but a a cashback card won't help you very much if you revolve a balance on it or use it to make purchases that aren't really needed.

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 9 of 19
Established Contributor

Re: Please, help. I need credit card with longest 0% APR offer and good priviliges


marty56 wrote:

Unless you have the income to PIF the BT before the end of the term and a high enough CL to cover a least one card, your plan won;t work.  Also if you do this, you must not run up any more revolving debt.  A better approach would be to use the debt snowball method to get out of CC debt.  This method requires you to make minimum payments on all but the CC with the smallest amount of debt and on that one, pay extra until PIF.  repeat on the next lowest balance until debt free.

 

Not to judge but a a cashback card won't help you very much if you revolve a balance on it or use it to make purchases that aren't really needed.


+1  ---  if you are adding additional debt to your credit cards then the 0% is not going to do you any good.  My suggestion would be to look at your current finances and try not to spend more than your current monthly income because it is only going to snowball and you will likely find yourself in an even worse situation.  You may want to call your current companies and let them know you are receiving preapproval offers from other companies and ask if they can decrease your interest rates on your current cards.  That will help you with having less interest to pay.  So, even if you are gong to get the 0% card, I would still call your current credit cards and just ask for a lower interest rate.  Just becareful with this because it can be a double edged sword.  Unfortunately when you call in about your account, you "bring attention" to yourself and it may cause unwanted results such as balance chasing.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 712 (02/03/2017) Tu: 717 (04/03/2013)
Goal Score: Eq: 760 Tu: 760

Wallet: PenFed Power Cash 25k | AMEX Blue Cash (AU) 49.5k | Cap One QSMC 26.5k | AMEX Platinum NPSL | LFCU Visa 10k
Message 10 of 19